PPP Loan Data — Seattle's Union Gospel Mission, Seattle, WA
Seattle's Union Gospel Mission is a non-profit organization located at 3800 Othello St in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $1,997,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Sound Bank
Seattle's Union Gospel Mission in Seattle, WA received a Paycheck Protection Loan of $2M through First Sound Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Seattle's Union Gospel Mission's 2019 payroll expenses are estimated to be at least $9.59M.
Based on their reported 184 jobs retained, this equals an estimated average yearly compensation of $52,101 per employee1
Reported PPP Proceed Usage:
On the PPP application, Seattle's Union Gospel Mission reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,997,200
Business Information - Seattle's Union Gospel Mission in Seattle, WA
3800 Othello St
Seattle, WA 98118
NAICS code 624221
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,076 businesses in the "Temporary Shelters" industry received a total of $349.6M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 24 employees, 87% lower than Seattle's Union Gospel Mission's reported 184 employees, and received an average PPP loan of $168,403, 92% lower than this company's loan of $2M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!